Page 2 - Frauds

EOW conducts raid at multiple locations in J-K in ₹53 lakh land fraud case

The Economic Offences Wing (EOW) of Crime Branch Kashmir on Thursday conducted raids at multiple locations here in connection with a Rs 53 lakh land fraud case, officials said. The searches were conducted at several locations in Srinagar district in connection with a case of cheating and dishonestly inducing delivery of property against four individuals involved in the fraud. The case was registered on September 2 following a written complaint alleging that land brokers Tariq Ahmad Hajam, Ghulam Hassan Mir, Sonaullah Mir, and Razzak Mir -- all residents of Barthana Srinagar -- deceitfully grabbed Rs 53 lakh from the complainant on the pretext of facilitating a land deal, a spokesman of the Crime Branch said. He said the investigation has revealed that the accused, in connivance with certain revenue officers and officials, had "manipulated documents and misused official processes to illegally" obtain money and property from the complainant. Searches were conducted to trace evidence

Payment apps, DoT help avert ₹200 cr potential fraud: PhonePe co-founder

Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday. While giving a presentation to Prime Minister Narendra Modi at the inaugural session of India Mobile Congress (IMC), PhonePe co-founder Rahul Chari said that by using FRI (Fraud Risk Indicator) data, apps like PhonePe and Paytm have frozen more than 10 lakh accounts and wallets. "They have blocked more than 48 lakh suspicious transactions. More than 200 crore rupees in potential financial loss have been averted. The DoT has been able to save more than that in the potential financial loss to consumers in just 3-4 months prior to the launch," Chari said. According to the breakup shared by Chari, PhonePe claims to have helped citizens avert potential financial fraud losses of around Rs 125 crore, while Paytm has helped save Rs 68 crore in the last 2 ..

Bombay HC upholds SBI order on Anil Ambani, Reliance Comm fraud accounts

The Bombay High Court while upholding an order of the State Bank of India (SBI) classifying the accounts of industrialist Anil Ambani and Reliance Communications as fraud has said it was a reasoned order, and did not have any legal flaw. A bench of Justices Revati Mohite Dere and Neela Gokhale on October 3 dismissed a petition filed by Ambani, challenging the SBI order. The judgment, a copy of which was made available on Tuesday, said there was no merit in Ambani's plea as there was no "infirmity" in the SBI order of June 13, 2025. The court did not entertain the industrialist's contention that the order should be held as null and void because he was not given a personal hearing, and relevant documents were not furnished to him. The right available under the Reserve Bank of India's (RBI) Master Directions, under which the SBI passed its order, is that of making a representation and not of personal hearing, the high court noted. Ambani had submitted his response to the show-cause .

Charlie Javice gets 7 yrs in prison for defrauding JPMorgan of $175 million

The 33-year-old Frank founder was convicted of conspiracy, bank fraud, and wire fraud after faking user records to sell her startup to JPMorgan in a $175 million deal

EU questions Apple, Google and Microsoft on steps to curb financial scams

The EU is increasing its regulatory scrutiny of major US technology companies via the Digital Services Act

Mobikwik reports financial fraud in Haryana; says user accounts unaffected

Fintech firm One MobiKwik Systems on Thursday confirmed that a technical glitch had led to unauthorised payments in and around one district of Haryana last week, and said remedial measures had been taken with financial impact contained and quantified. The company, in a statement, clarified that the incident did not affect UPI, wallet payments, or user account balances. "MobiKwik confirms that an isolated technical issue on September 11-12, 2025, led to certain failed transactions being incorrectly marked as successful, resulting in unauthorised payouts to some merchants in and around the Nuh district of Haryana. A few merchants and users from this area exploited this issue to gain undue financial benefit. "Upon identification in the early hours of September 12, the Company immediately took corrective action and resolved the issue within 45 minutes. The total financial impact has been contained and quantified," it said, adding that no employees, management personnel or insiders were

Businessman loses ₹5.8 lakh in cyber scam in Bengaluru: Details here

The man residing in the New Thippsandra area received a fake Regional Transport Office e-challan APK file on the messaging platform from an unknown contact

UK Deputy PM Angela Rayner resigns over tax issues, triggering reshuffle

Rayner's resignation came after the government's independent ethics adviser, Laurie Magnus, delivered a report to the premier on Friday that found she had breached the ministerial code of conduct

Trump appeals NY fraud ruling despite hailing earlier decision as 'victory'

Trump's notice of appeal was filed Tuesday with New York's Court of Appeals, the state's highest court, which will now review the case

EC notice to NDA MP, her MLC husband for possessing two voter cards

The Election Commission on Thursday served notices to LJP (Ram Vilas) MP from Bihar's Vaishali Veena Devi and her husband Dinesh Singh, a JD(U) MLC, for allegedly possessing two voter ID cards each, an official said. The EC's action came hours after RJD leader Tejashwi Yadav alleged that the couple possessed two voter ID cards each. "The Electoral Registration Officer (ERO) for Muzaffarpur assembly constituency has sent notices to the MP and her husband asking them to submit their replies to the EC over the issue of possessing two voter ID cards by August 16," the official said. Yadav, the leader of opposition in the assembly, shared purported screenshots of draft electoral rolls published following the Special Intensive Revision (SIR), claiming that the NDA MP and the MLC have two voter cards each. "Is it not a case of fraud, manipulation, and collusion by the Election Commission to ensure a victory for BJP-NDA?" he asked. Speaking to reporters, Veena Devi claimed, "I don't know

ED raids against UP realty group for ₹248 cr fraud with home buyers

The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of Rs 248 crore, official sources said. At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), they said. The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their properties. As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is Rs 248 crore, the sources said. The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed. The promoters of th

ED raids 12 sites in Rs 750 cr fake input tax credit scam across 3 states

Fresh ED raids across Jharkhand, West Bengal, and Maharashtra target shell firms and suspects linked to Rs 750-cr fake input tax credit scam under PMLA investigation

Nearly 4 million SIMs deactivated as govt cracks down on digital fraud

DoT uses AI-based system to detect scam-linked numbers; thousands flagged for verification, hundreds of agents blacklisted

Why Asia's 'scamdemic' is everyone's problem that demands global action

Scams-once random nuisances-have become a trillion-dollar global industry, fuelled by forced labour hubs in Southeast Asia's lawless borderlands

ED makes first arrest in ₹3,000-crore loan fraud case against Anil Ambani

Partha Sarathi Biswal, was taken into custody under the provisions of the PMLA 2002

Fraudsters pose as govt officials to dupe A-I crash victim's kin, FIR filed

Posing as government officials and a Supreme Court lawyer, two individuals allegedly tried to dupe the family of an Air India crash victim into signing papers for compensation; an FIR has been filed

What to avoid in a will: Unequal shares, coercion, vague language

All of the above can lead to intra-family disputes; anyone making a will who anticipates acrimony should use of a family settlement to pre-empt it

Mangaluru Police seek custody of prime accused in multi-crore fraud case

The Mangaluru City Police have filed a formal petition before the jurisdictional court seeking custody of the prime accused in a multi-crore investment fraud case, officials said on Tuesday. Roshan Saldanha, a resident of Bajal in Mangaluru, is currently in judicial custody, they said. He is accused of duping investors of several crores of rupees through fraudulent investment schemes that promised high returns, police said, adding that multiple complaints have been lodged against him by victims from various parts of Dakshina Kannada and beyond, alleging that they were misled by Saldanha's schemes and guarantees. According to Police Commissioner Sudhir Kumar Reddy, in one case, Rs 10 crore has been fleeced from an investor. The case involves the use of forged documents, shell companies, and sophisticated methods of financial manipulation, sources said. The police now seek custodial interrogation to uncover the full extent of the fraud, track the flow of funds, identify accomplices,

ED arrests two Ramprastha Group directors in ₹1,100 crore fraud case

The Enforcement Directorate on Monday arrested Sandeep Yadav and Arvind Walia, promoters of realty company Ramprastha Group, as part of a money laundering investigation linked to an alleged Rs 1,100 crore fraud with homebuyers, official sources said. The arrests came after the Gurugram zonal office of the federal probe agency raided their premises early morning apart from some others in the national capital region (NCR). The two are directors and majority shareholders in Ramprastha Promoters and Developers Pvt. Ltd. (RPDPL). They have bene taken into custody under the Prevention of Money Laundering Act (PMLA), they said. It is alleged that RPDPL collected about Rs 1,100 crore from more than 2,000 homebuyers for various housing schemes like Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project). The possession of the flats or plots is yet to be given even after 15-20 years, the sources said.

GST officers detect ₹15,851 crore fraudulent ITC claims in April-June

GST officers have uncovered fake input tax credit (ITC) claims of Rs 15,851 crore in the April-June quarter of current fiscal, a 29 per cent jump over the year-ago period, even though the number of fake firms detection was less Y-o-Y, officials said. The total number of fake firms detected by central and state GST officers during the first quarter of FY26 stood at 3,558, less than 3,840 such entities detected in the same quarter of FY25. panel of state finance ministers, chaired by Goa Chief Minister Pramod Sawant, is currently studying tax evasion in specific sectors and looking at ways to check input tax credit (ITC) fraud. "On an average, about 1,200 fake firms are getting detected every month. The number of fake firm detection in the April-June period is less compared to last year, which shows that the drive against fake GST registration has worked," an official said. As per the data of the fake firms and ITC frauds detected by central and state GST officers during the June ...